Plug Power FY2024 EPS Estimate Increased by Roth Capital

Plug Power Inc. (NASDAQ:PLUG) – Equities research analysts at Roth Capital raised their FY2024 earnings per share (EPS) estimates for Plug Power in a research note issued to investors on Tuesday, November 12th. Roth Capital analyst C. Irwin now anticipates that the electronics maker will post earnings of ($1.27) per share for the year, up from their prior forecast of ($1.28). The consensus estimate for Plug Power’s current full-year earnings is ($1.16) per share. Roth Capital also issued estimates for Plug Power’s Q4 2024 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.08) EPS and FY2025 earnings at ($0.60) EPS.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same period in the prior year, the firm earned ($0.47) EPS. The business’s revenue for the quarter was down 12.6% on a year-over-year basis.

PLUG has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Plug Power in a research report on Wednesday. Jefferies Financial Group cut their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday. Susquehanna cut their price target on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, Piper Sandler lowered their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.52.

Plug Power Price Performance

Shares of NASDAQ:PLUG opened at $1.87 on Friday. The company has a market capitalization of $1.64 billion, a PE ratio of -0.87 and a beta of 1.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 2.08. The stock has a fifty day moving average of $2.08 and a 200-day moving average of $2.40. Plug Power has a one year low of $1.60 and a one year high of $5.14.

Institutional Investors Weigh In On Plug Power

Large investors have recently bought and sold shares of the business. Vontobel Holding Ltd. lifted its position in shares of Plug Power by 44.3% in the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after buying an additional 1,051,400 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Plug Power by 5.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker’s stock worth $2,065,000 after purchasing an additional 33,311 shares during the last quarter. Gabelli Funds LLC boosted its position in Plug Power by 42.9% during the first quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker’s stock worth $860,000 after purchasing an additional 75,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Plug Power by 25.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,945,162 shares of the electronics maker’s stock worth $4,532,000 after purchasing an additional 400,120 shares during the period. Finally, Diversified Trust Co acquired a new position in Plug Power during the second quarter valued at approximately $35,000. 43.48% of the stock is currently owned by institutional investors.

About Plug Power

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.